Mohamed El-Erian, Allianz chief economic adviser, talks about the aftermath of United's debacle from dragging a passenger off one of their flights, and Delta's "game theory" plan to offer passengers more money if they are bumped from flights.

We are in the era of normalcy and balance, says Mohamed El-Erian, Allianz chief economic adviser, sharing his outlook on interest rates and Federal Reserve policy. The Fed increasingly will lead the market rather than follow, says El-Erian.